Square Will Acquire AfterPay

Square will acquire AfterPay. $29 billion will be paid for the said acquisition.

Another important investment news has been received from Jack Dorsey, the CEO and founder of Square, as well as Twitter. Square has signed an agreement with the company on the acquisition of Australian payments giant AfterPay. Both companies made an official statement on the subject. In the aforementioned statements, it was noted that AfterPay shareholders will receive 0.375 Square shares per share they hold. The acquisition is scheduled to be completed in the first quarter of 2022. https://twitter.com/Square/status/1421955878001983488

It Will Be The Largest Purchase In Australian History

Square's $29 billion purchase will go down in history as the biggest deal in Australian history. The previous biggest deal in the country was in 2017, when Unibail-Rodamco bought Westfield, the shopping center group, for approximately $25 billion. Melbourne-based company AfterPay offers retail customers the option to pay for products in four installments, interest-free, if payments are made on time. Afterpay has around 16 million customers, and regarding the payment method, the company consistently states that its customers see this system as a much more "responsible" method of borrowing than a credit card. Customers make regular payments to AfterPay and pay a certain percentage for each order.